Making the Sale: Understanding The 7 Key Result Areas of Selling
Driving sales is a major goal for every business. More sales means more profits, which increases the resources available to put towards growth and strategy. Therefore, understanding the sales process becomes incredibly important.
While whole courses can be taught on the subject, understanding sales strategy begins by establishing the 7 key result areas of selling.
Prospecting – In order to sell your product or service, you must first develop a base of potential customers. Also known as lead generation, prospecting involves asking who are your potential customers and how do you reach them?
Establishing Rapport – Before you are able to make your first sale with a prospect, you must develop a base of trust. In a world where consumers’ options are endless, developing rapport becomes increasingly more important.
Accurately Identifying Needs – Your consumers have needs, and you are trying to provide the solution. However, if you misjudge their needs, you cannot tailor your product or service appropriately. Test your market and ask focused questions of your potential customers, such as what their needs are and what they are willing to pay for a solution.
Presenting – A key turning point of the sales process, this is where you introduce potential customers to your product or service. While showing, teaching, or explaining the benefits, focus your messaging on what your product does as opposed to what it is.
Addressing Concerns – It’s perfectly natural for your customers to have objections, and most of them will share the same concerns. Be prepared to address the common questions about price and capability with honest answers.
Closing the Sale – Learning how to ask for the order and closing the sale is an essential skill to learn. The more efficiently you have laid the groundwork up to this point, the easier closing will be, but regardless, closing the sale requires you to tell the prospect exactly what he or she needs to do to finalize the process.
Getting the Second Sale – Contrary to popular belief, the second purchase is actually the most important because it means that the customer tried your product or service and found it valuable enough to purchase it again.
While each step in the sales process is essential, three in particular will drive about of 90% of your sales. Prospecting, presenting, and closing are the most challenging aspects of the sales cycle, but they are also skills that can be developed and learned.
As a FocalPoint Certified Business Coach, Matt Job leverages three decades of business and sales experience to help business owners and executives increase the effectiveness of their sales teams and boost profits. Are you ready to start the conversation? Contact Matt Job at email@example.com or connect with him on LinkedIn.